Core Viewpoint - The company, Geekplus Technology, is launching an IPO in Hong Kong, aiming to raise approximately HKD 2.2055 billion for research and development, sales network expansion, and supply chain development [1][2]. Group 1: IPO Details - Geekplus plans to issue around 140 million H-shares, with approximately 126 million shares for international offering and 14.0354 million shares for public offering in Hong Kong [1]. - The offer price is set at HKD 16.80 per share, with the public offering starting on June 30 and ending on July 4, 2023 [1]. - The final offer price and allocation results are expected to be announced on July 8, 2023, with trading on the Hong Kong Stock Exchange commencing on July 9, 2023 [1]. Group 2: Investor Interest - The IPO has attracted cornerstone investors including Xiong'an Robotics, Yige, Eastspring Investments, and Arc Avenue, who collectively subscribed to approximately USD 91.3 million worth of shares [2]. - Notable investors prior to the IPO include Warburg Pincus, CICC, Agricultural Bank of China, Morgan Stanley, Volcano Stone, Yili, Ant Group, and Intel [2]. Group 3: Market Position and Financial Performance - Geekplus is the largest provider of autonomous mobile robot (AMR) solutions for warehouse fulfillment globally, holding a market share of 9.0% as of 2024 [2]. - The company has approximately 800 end customers and has delivered around 56,000 AMRs to over 40 countries and regions by the end of 2024 [2]. - Revenue is projected to grow from RMB 1.452 billion in 2022 to RMB 2.409 billion in 2024, driven by a rapid increase in product orders [2]. Group 4: Financial Challenges - Despite revenue growth, Geekplus has faced significant losses over the past three years, with annual losses of RMB 1.567 billion, RMB 1.127 billion, and RMB 832 million, totaling RMB 3.525 billion [3].